16 August 2012
Overall annual oil demand growth in 2012 is now expected to come in at 0.9% by the IEA (+800,000 barrels per day), close to last year’s 0.8%, which was a 10-year low (excluding the contracting years of 2008/2009). The rise is exclusively originating from non-OECD countries. The outlook was modestly curtailed by early July on the back of the weaker global economic situation. This translates into a rather slim fundamental support to the tanker segment, but fortunately tanker shipping is so much more than overall oil demand.
16 October 2012
The demand situation in tanker shipping is anything but formidable. We see a mixed picture from one trading area to the next and from crude oil to products.
14 February 2012
Overall oil demand declined by 0.3 million barrels per day y-o-y in Q4-2011 as the global economy weakened and the winter season did not provide low enough temperatures to stimulate demand. As we have just left 2011 behind us, the final estimates for demand growth stay preliminary for the time being at 3% for product tankers
13 June 2012
The demand picture for oil tankers is steady – perhaps a bit too steady if you look at the freight rate movements for VLCC crude oil tankers and MR clean product tankers. This stands in contrast to the spikes that Suezmax owners have achieved during the first five months of 2012.
22 May 2012
Crude oil tanker tonnage in the size range from Aframax to VLCC is now recycled at the age of just 21, a level not seen since 1995. The poor freight market now increasingly impacts the segment of more mature tankers, effectively reducing the room for more demolition to balance the market.
11 April 2012
The positive demand picture that was firming freight rates on benchmark routes in all crude tanker segments towards the end of 2011 and the first two months of 2012 is still hanging around. Almost the same – that is, as Aframax tanker have seen earnings on the benchmark route in the North Sea drop during February to touch the ground before taking rates to currently USD 10,500 per day.
19 August 2013
The market for crude oil tankers hasn’t been particularly upbeat in the first half of the year. Product tankers however have delivered very decent returns if judged by their performance during the last 7 months.
10 October 2013
Demand: The dynamic nature of the product tanker market, where refinery locations, local market demand specifications and price arbitrage trades are constant moving objects, turn one main trade into a minor trade within a New York minute.
13 June 2013
Crude oil tankers in the mixed zone, whereas product tankers are feeling the first rays of sun between the clouds
13 February 2013
”The smaller the better” seems to be the mantra in the tanker segment these days. Whilst all crude tanker segments enjoyed a spike in earnings in late December, the subsequent drop hit the VLCC much harder than the Aframax segment.